Prepare to Negotiate

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10/31/2023

Prepare to Negotiate

Source: Bill Farquharson, The Sales Vault, October 30, 2023

“I love to negotiate,” said no one. Ever.

Negotiation means confrontation and disagreement. Negativity swirls all around the subject and it causes a lot of discomfort. What's more, the net result can mean you've won the order but have suffered a loss of some kind as well.

Now, I could give you the top five sales tips on the subject, but you could Google that just as easily as hearing it from me.

I could—and will—advise you to read an excellent book on the subject, “Never Split the Difference” by Chris Voss. Interesting, engaging, and entertaining, Voss is a former FBI hostage negotiator who brings his skills to the business world.

But in all the research I did for an upcoming Sales Vault workshop on the subject, nowhere did I find the advice you are about to hear:

Expect it.

Expect to negotiate. You see, I find sales reps are often blindsided when they encounter push back. This is especially true for existing customers. They just accept the reorder, get a quote, and send the number over to the client. But when the customer says, “We’ve gotten other quotes,” they panic. Or when a new customer asks, “Is that your best price?” their immediate reaction is to lower their bid.

You need to approach every encounter with the understanding and expectation that you’ll be confronted with a negotiation. Be ready with a response, gang, because when you give your price, it’s game over. Your choices are to lower the price or substantiate it.

So, be ready.

Watch Bill present this week's sales tip

The Sales Vault, created by Bill Farquharson, is a subscription-based resource and sales community featuring a calendar packed with live workshops, on-demand sales courses, peer-to-peer discussion groups, and 35+ years of sales training content all searchable by sales challenge. Think of it as a sales conference where the seminars and workshops, full of instantly applicable ideas, are ongoing and more programs are added constantly.

The Sales Vault is available on a monthly subscription basis, normally at a no-brainer monthly price of $45/participant, but… GMA members can take advantage of an exclusive offer: FREE membership for 30 days followed by a discounted monthly subscription price of just $40/participant.

Bill has been a friend of GMA for many years and is, no doubt, known to our members as a top sales trainer and content creator for the graphic arts.

Other Vault resources:

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10/31/2023